- UMS is encouraged by strong order flow of its new key customer which helped to triple its sales in Malaysia as the customer seeks to divert its US supply source to Asia. UMS expects to benefit from trade diversion from the ongoing trade war.
1Q25 flat earnings in line with expectations.
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- 1Q25 earnings was flat despite a 7% increase in revenue y-o-y due to more than S$1m forex loss vs a forex gain of S$1m in 1Q24. UMS’s gross margin rose to 56% from 53% in 1Q24 due to the change in product mix as semiconductor components, which command a higher margin, accounted for a larger share of overall sales.
1Q25 revenue grew 7% y-o-y due to larger semiconductor segment.
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- Geographically, all UMS's key markets except Malaysia and US posted lower revenue in 1Q25.
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